Ispire Technology Inc
ispiretechnology.comWhat Do They Do?
Sells tobacco vaping products through distributors and cannabis vaping hardware to cannabis brands and operators.
10-K for FY2026, filed Sep 15, 2026We are engaged in the research and development, design, commercialization, sales, marketing and distribution of branded and non-branded…View ↗
We sell our e-cigarette and pouch products globally, in markets where we are legally permitted to do so. To date, a majority of our…View ↗
We currently sell our cannabis vaping hardware in the United States, Canada, and South Africa. However, we are continuing to develop our…View ↗
How Do They Make Money?
Customers buy vaping products through orders. Tobacco customers pay a deposit when ordering and the balance before shipment; cannabis customers have payment terms tailored to each customer.
10-K for FY2026, filed Sep 15, 2026
-
10-K for FY2026, filed Sep 15, 2026
FY2026 revenue by product or service ↗
$96M
-
10-K for FY2026, filed Sep 15, 2026
$96M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Tobacco vaping products
Sold outright
10-K for FY2026, filed Sep 15, 2026 |
83% |
Tobacco vaping products, FY2026
$80.1M Sources
|
Sold outright |
|
Cannabis vaping products
Sold outright
10-K for FY2026, filed Sep 15, 2026 |
17% |
Cannabis vaping products, FY2026
$15.9M Sources
|
Sold outright |
Who Are Their Customers?
Tobacco vaping products are sold mainly to distributors, which typically resell through wholesalers and retail outlets. Cannabis hardware is sold directly to cannabis brands, which sell products under their own names.
10-K for FY2026, filed Sep 15, 2026Most of our revenue from our e-cigarette products comes from sales to our distributors. We are looking to increase our OEM and ODM sales of…View ↗
Our cannabis vapor products are sold directly by us, with most of our sales being to other cannabis vaping brands who purchase the product…View ↗
Typically, our distributors sell our products to wholesalers who in turn sell to retail distributors, although distributors may sell…View ↗
Do Revenues Turn Into Profits?
No. It lost $33.2M in FY2026.
10-K for FY2026, filed Sep 15, 2026
−$32.6MView ↗
10-K for FY2026, filed Sep 15, 2026
−$33.2MView ↗
10-K for FY2026, filed Sep 15, 2026
−$875.4KView ↗
How Are They Changing?
Growing. Revenue grew 9% in 4 years, from $88.1M in FY2022 to $96M in FY2026, about 2% a year.
Cannabis sales markets
The earlier report described cannabis hardware sales only in the United States, with marketing underway in Canada and Europe; the latest report says the company sells in Canada and South Africa as well as the United States.
10-K for FY2023, filed Sep 19, 2023 10-K for FY2026, filed Sep 15, 2026We currently sell our cannabis vaping hardware only in the United States, and we have recently commenced marketing activities in Canada and…View ↗
We currently sell our cannabis vaping hardware in the United States, Canada, and South Africa. However, we are continuing to develop our…View ↗
Nicotine product range
The latest report adds assembly of nicotine pouch products and other next-generation nicotine products to the earlier description of branded e-cigarettes and cannabis vaping products.
10-K for FY2023, filed Sep 19, 2023 10-K for FY2026, filed Sep 15, 2026We are engaged in the research and development, design, commercialization, sales, marketing and distribution of branded e-cigarettes and…View ↗
We are engaged in the research and development, design, commercialization, sales, marketing and distribution of branded and non-branded…View ↗
Who Do They Compete With?
Competes with Smoore International Holdings
10-K for FY2026, filed Sep 15, 2026The worldwide market for e-cigarette products is highly competitive, with more than 50 companies selling products which compete with our…View ↗
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